The 2020 global pandemic has reinvented teaching, learning, meeting, sharing, and seeking help. Physical classrooms are no longer the norm; online education and hybrid models are the future of education. Digital transformation has accelerated learning, and people across the globe are more confident about learning anything from anywhere.
AWS EdStart has published a detailed eBook that focuses on the “7 Trends for EdTechs”: Online & Distance Learning, Rapid Innovation, Market Expansion, Artificial Intelligence (AI) & Machine Learning (ML), Accessibility & Inclusion, Social Emotional Learning (SEL), & Fundraising.
EdTechs are using cloud infrastructure to deliver teaching-learning solutions across the globe. But, with online learning environments, secure, scalable, and accessible solutions are critical.
That is why successful EdTechs use AWS Cloud solutions to make their offering reachable to every teacher and learner securely. AWS enables them to speedily, securely, and scalably deliver engaging learning experiences, improve customer relationships, develop forward-thinking data strategies, build new revenue streams & a lot more.
EdTech’s influence has grown exponentially as learners from varied communities and locations have come together to learn through digital pedagogy with EdTech solutions. This has also opened up a growing global, vernacular market which EdTechs are addressing with innovative & dynamic solutions.
EdTech solutions going for a global approach from day one allows them to be more agile. It reduces long-term costs, saves time, and supports innovation. AWS’s secure, extensive, and reliable cloud infrastructure is conducive for EdTech newbies with over 200 fully-featured global services. It provides the flexibility to select various technological infrastructures to address users’ primary targets. With AWS solutions like CloudFront and Amazon Translate, EdTech companies can easily provide users with the ability to develop or access the content they want from anywhere.
“Genially”, an AWS EdStart Member has successfully redefined creating animated and interactive content with AWS.
Genially developed an all-in-one online content creation tool to enable anyone to build interactive and animated presentations, images, and infographics to improve the communications experience.
As a startup, Genially’s biggest challenge was scaling the solution. With guidance from the AWS EdStart team, they took advantage of AWS Elastic Beanstalk, CloudFront, and AWS Lambda to scale their content creation tool to over 8M people. It decreased the costs by 50% and added 30,000 new users daily while delivering its content globally.
Another critical aspect of the growth of EdTech solutions is fundraising.
- A report by Grand View Research reveals that the global EdTech market segment is anticipated to reach 285.2 billion by 2027.
- Another report from HolonIQ states that of the $16 billion venture capital raised by education companies worldwide, China and India account for over 77% of it.
- As for the United States, EdSurge’s funding database reveals that EdTech startups raised above $2.2 billion in venture and private equity capital across 130 deals.
- In Europe and the Middle East (EMEA), the 2019 pandemic accelerated EdTech adoption.
- The investment on a global level touched $16.1 Billion. In comparison, the VC investment only reached $447 Million in Europe and the Middle East during 2020, significantly lagging behind the US, India, and China.
With massive EdTech budgets and funding becoming plentiful, it’s essential to understand the different types of funding available to your startup. The funding models for EdTech are changing, with non-traditional and non-dilutive funding opportunities becoming more attractive to early-stage EdTechs. Even with funds being dumped into the industry, EdTech entrepreneurs are taking advantage of debt-based financing and other non-traditional funding sources previously unavailable. With varied fundraising channels like grants, angels, incubators, pitch competitions, venture capitals, and more, startups must understand what best fits their needs and have critical insights from industry experts to pick the best option.
Based on key learnings and direct interaction with industry experts, leaders, and AWS customers worldwide, AWS has identified seven key trends EdTechs need to prioritise as they navigate 2021 and beyond.
AWS has curated “The EdTech Startup Guide: Inspiring Innovation In Education Technology” to share all the insights with budding industry entrepreneurs. It summarises trends, industry insights, best practices, and resources for entrepreneurs to help them build the next generation of online learning, analytics, and campus management solutions on the AWS Cloud.
Amazon Web Services enables EdTech companies to accelerate the development of secure and scalable technology solutions that support students and educators every day. AWS helps EdTechs realise the full potential of cloud computing with dedicated business and technical resources to support their growth. AWS EdStart is designed to help entrepreneurs build the next generation of online learning, analytics, and campus management solutions on the AWS Cloud. Learn more about the program.